Swiss Franc (CHF) Technical Major Currencies (2010-01-20)

The dollar versus swissy breached pivotal resistance 1.0300 strongly with additional support from the bullish technical pattern that is expected to carry the pair towards 1.0450 as full targets for this pattern. We can expect some minor bearish correction to get rid of the negative signs appearingon momentum indicators that might build a base on 1.0350 and then return to resume the bullish intraday direction. The bullish direction will prevail if 1.0260 is not breached.

The trading range for today is among the key support at 1.0235 and the key resistance at 1.0500.

The general trend is to the downside as far as 1.1225 remains intact with targets at 0.9600.

Weekly Report Previous ReportSupport1.03501.03001.02601.02101.0170Resistance1.04101.05001.05451.06101.0695RecommendationBased on the charts and explanations above our opinion is buying the pair from 1.0350 targeting 1.0500 and stop loss below 1.0260, might be appropriate.